Resource Buffers in Construction Projects

Abstract

Critical Chain Project Management (CCPM) is created on techniques and procedures taken from the Theory of Constraints (TOC). CCPM was presented in late 90s (1997) in a book named Critical Chain from several studies by Standish Group and others for customary project management methods, only half of the projects normally finish on time, projects generally take twice the duration originally planned, twice of the original planned cost, around 70% of projects fall short of their planned scope, and round about 30% of the projects are shut down in midway. CCPM can be used to avoid these customary statistics. Usually, CCPM case studies report greater than 95% on-time and on-budget completion when CCPM is applied in the approved manner. Initially, the CCPM guidelines and prescriptions and discovers its differences with customary project scheduling methods like Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM). Then the Critical Chain Project Management solution has been outlined, which covers all the proposed steps—the elements of the Critical Chain Project Management solution. Thereafter, the methodology used for data collection and analysis has been explained. Further, it explains the application of CCPM in a Transmission Line Project undertaken by Larsen and Toubro Power Transmission and Distribution. Further, the results of the analysis and discussions about the same have been written.